How long is the selection process? When do applications close?
The Northwest Arkansas Council is actively reviewing thousands applications and does not have a set timeline for when selections will be made. All applicants will receive updates via email.
There is no close date, and the Council will continue to accept applications on a rolling basis.
Is this a new incentive?
This is the next installment of our current incentive. Northwest Arkansas continues to receive recognition as a go-to place to live for those looking for a fun and affordable place to live, work and play.
Do I get to choose which cryptocurrency I want to purchase?
For this incentive, we are offering the equivalent of $10,000 in bitcoin cryptocurrency. Recipients can then choose what to do with their bitcoin — whether to keep or transfer.
Am I able to transfer from one cryptocurrency to another?
Yes, once you have been granted the equivalent incentive amount in bitcoin, you are free to do with it as you choose.
What qualifies as Northwest Arkansas?
Applicants must relocate to and maintain housing in either Washington or Benton counties to receive the incentive.
If accepted, may I seek employment in Arkansas?
Selected applicants are not prohibited from seeking employment in Arkansas after relocating to the region.
How long do I have to live in NWA?
To receive the lump sum of $10,000 in bitcoin, applicants must sign a one-year lease or purchase a home in Northwest Arkansas. The Northwest Arkansas Council is seeking applicants who showcase an interest in planting roots in the region.
What happens if I become unemployed or lose my job during the program?
As long as the selected candidate resides in the region for the full 12 months, they will receive the full incentive.
What if I am selected, but I move before the 12 months is over? Do I have to return the bitcoin received?
No, however, recipients are required to sign a one-year lease or purchase a home prior to receiving the bitcoin incentive.
Must I rent or can I purchase a home?
Selected candidates must secure housing whether renting or purchasing a home within Benton or Washington county.
How will I be paid in bitcoin? What is the payment schedule?
Once awarded the incentive, individuals will receive the equivalent of $10,000 in bitcoin upon providing proof of signing a one-year lease or purchasing a home.
The Northwest Arkansas Council is partnering with a local crypto investing company, Bundil, to distribute the awards in Bitcoin via the Bundil app. Recipients will be able to download the Bundil app to access their award or opt to have the Bundil team distribute the Bitcoin to a wallet of their choice once all required documentation has been submitted and approved. As seen on ABC’s Shark Tank, Bundil is a mobile application that invests your spare change from card purchases into a diversified portfolio of crypto assets.
Is the bitcoin taxable?
The program incentive paid to recipients is income. No tax withholdings of any kind shall be made and recipients will receive an IRS Form 1099. It is the responsibility of recipients to report the income to the appropriate state and federal tax authorities and to pay any taxes due on such income.
Are there any other incentives or job placement services?
The Northwest Arkansas Council is not currently offering any other incentives.
Candidates interested in jobs in the region can visit https://careersnwa.com/ to explore job openings.
The Council will share candidates’ information with employers in the region. If interested, join the Northwest Arkansas Talent Network here: https://talent.findingnwa.com/talent-network
What type of bicycle?
Incentive recipients will receive a $600 voucher to one of several locally-owned bike shops to use towards the purchase of a bike or other equipment.
More Eligibility Questions
Do I qualify if I have been offered a full-time position in the region?
To be eligible for the incentive, applicants must already have full-time employment with a company located outside of the state of Arkansas that gives an option to work remotely or be a self-employed/business owner with stable income.
Can I transfer my license to work in the region or transfer to an office in the region and be eligible?
No. Applicants must have full-time work at a company located outside of the state or be a self-employed/business owner with stable income
Are retirees eligible for the incentive?
Retirees are not eligible for this incentive.
Do I qualify if I’m on disability?
People receiving disability benefits are not eligible for this incentive. Applicants must either be working full-time with the option to work remotely or a self-employed/business owner with stable income.
I am not a U.S. Citizen, am I eligible for the incentive?
Noncitizens who have the necessary credentials required to work legally in the U.S. are eligible to apply. The Northwest Arkansas Council cannot aid in the acquisition or approval of such credentials (work visas, etc.).
I do not work in a STEAM field, and I am not self-employed, will I be considered?
While this incentive was designed to attract STEAM (roles rooted in science, technology, engineering, art and/or math) and entrepreneurial talent to the region, people with other full-time positions that allow for remote work outside of the STEAM fields and an active interest in relocating to the region will still be considered.
I don’t currently have a remote working option, but would I be eligible if I obtain a position that allows me to work remotely or I am granted the option to work remotely at a future date?
Applicants seeking roles with remote options should only apply once they obtain that option.
I was living outside of Arkansas when I applied, but I now live in-state, am I eligible?
No. Applicants are not eligible for the incentive live in-state at the time of acceptance. Applicants must have full-time work at a company located outside of the state or be a self-employed/business owner with stable income.
I am a remote worker/self-employed/business owner, but I have to travel often for work, am I eligible?
I have multiple streams of income, do I qualify?
All applicants who have stable income and the ability to work remotely are eligible.
What is the upper age limit? What if I am currently under the age of 24.
There is no upper age limit. Applicants under the age of 24 may still be eligible if turning 24 on or before the date of relocation.